The Zimbabwean Mines and Energy parliamentary portfolio committee has committed itself to pushing for the production of value-added diamond products that would see the country’s export industry benefit. Zimbabwe can derive at least US$14 billion in potential revenue every year when it exports diamonds in their raw form, said Zimbabwe Diamonds Technology Centre (ZDTC) chairperson, Lovemore Kurotwi, and Diamond Beneficiation Association of Zimbabwe chairperson, Richard Mvududu. Kurotwi noted that research by Bain and Company had found that the world diamond industry generated about US$71 billion every year in finished products while US$47 billion was realised from cut and polished diamonds. “In light of this, since Zimbabwe is a major producer of diamonds and is known to have capacity of contributing up to 30 percent of the world’s production when in full operation, it can earn itself approximately US$14 billion, provided that we sell cut and polished stones,” he reportedly said. “If we sell finished products in jewellery form we will earn approximately US$21 billion annually.”
Zim explores value-added diamond exports
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